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Vance invests S15,000 in an account that pays 3 1/4% simple interest for 72 months. Assuming Vance doesn't
make any other deposits or withdrawals, how much will be in his account after 72 months?

Vance invests S15000 in an account that pays 3 14 simple interest for 72 months Assuming Vance doesnt make any other deposits or withdrawals how much will be in class=

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abidemiokin

Answer:

$15487.5

Step-by-step explanation:

Using the formula for calculating the amount as;

Amount = Principal + Interest

Principal = $15,000

Get the interest

Interest = PRT/100

Interest = 15000*13/4 * 3/100 (72months = 3years)

Interest = 195000/400

Interest = $487.5

Amount = 15000 + 487.5

Amount= $15487.5

Hence he will have $15487.5 in his account after 72months